• 0
  • Home
  • About Us
  • What We Do
  • Register

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do
  • Register

Rockpoint closes on $303M deal for Miracle Mile office tower

Rockpoint Group co-founders Keith Gelb and Bill Walton with 5900 Wilshire Blvd
Rockpoint Group co-founders Keith Gelb and Bill Walton with 5900 Wilshire Blvd

Rockpoint Group has closed on its purchase of a Miracle Mile office tower.

The Boston-based investor paid $303.4 million to buy the 30-story 5900 Wilshire, property records show.

That works out to about $615 per square foot.

Rockpoint bought the 493,000-square-foot building, at 5900 Wilshire Boulevard, from a partnership of PGIM Real Estate, Ratkovich Company and AXA Capital.

A spokesperson for Rockpoint declined to comment. Representatives for the sellers did not immediately respond to requests for comment.

The office property is one of the largest and most recognizable buildings in the area and was about 93 percent leased last year.

Ratkovich bought the property in 2005 for $102 million with PGIM, which in 2016 sold a 49 percent stake to AXA following a major renovation.

Rockpoint owns another office tower down the street, the 27-story 5670 Wilshire Boulevard, which it purchased in 2017 from Blackstone Group for $215 million.

The post Rockpoint closes on $303M deal for Miracle Mile office tower appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 28 February 2020
  • The Real Deal
  • Uncategorized
  •  Like
The gender wealth gap extends to real estate: Yale study →← LA home prices up 8.5% YOY amid plummeting inventory
  • Recent Posts

    • Long Beach to add new tiny homes, Project Homekey housing February 11, 2023
    • Hudson Pacific betting on “next Amazon or next Google” to spur office market February 10, 2023
    • City of LA’s price to hike rent by more than 10% on 2-bedroom place: $8,400 February 10, 2023
    • Inland Empire development icon dies after mountain summit February 10, 2023
    • Brentwood Park trophy home listed for $30M February 10, 2023
  • Recent Comments

    • Archives

      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      3550 Wilshire Blvd, # 1064
      Los Angeles, California 90010
      +1 213-427-1127

    © 2023 GPAM